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Rent costs in London are actually going down

Isabelle Aron

There are certain things you have to accept when you live in London. The Central line will always be hot as hell, you’ll almost definitely have to queue if you want to get into Bao, and most importantly (and most depressing): you will spend most of your wages on rent.

But now there’s a glimmer of good news for London renters. Wait for it... rent costs are actually falling. But don’t get too excited, folks, as they’re only down by 1 percent. Still, small victories, eh?

The figures come from SpareRoom’s London Rental Index, which showed that the average London rent cost has fallen by 1 percent. In north London, there’s been a decrease of 3 percent, with falling rents in Islington and Stoke Newington. But it’s not all good news. Rent costs in south-east London are on the rise, with increases of 16 percent in Blackheath and 13 percent in Dulwich.

Basically, rents are getting cheaper in more expensive areas but more expensive in cheaper areas, which we can only assume is down to good ol’ #gentrification. And possibly Brexit – that’s usually to blame for this sort of stuff, right?

Photo: DodderyIceDry/Flickr.

Strapped for cash? A Covent Garden café is selling cake, coffee and prosecco for 1p this week.

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